...In 2007, the Pelosi-Congress reduced interest rates on government-subsidized Stafford loans from 6.8% to 3.4%. Like every stimulus measure during that era, it was supposed to be temporary. Now there is a bipartisan deal to ostensibly make it permanent (they say it’s only for 1 year, but we’ve seen that rodeo before). They only care about the $6 billion annual cost to the government, but fail to focus on the more fundamental problem – the fact that government subsidies will continue to fuel the education bubble, engendering a further need for larger subsidies. Hence, the circuitous cycle of government intervention and inflation will continue unabated....
It's all just "co-incidence" resulting from "comity" in the Parliament of Whores.
Hey dad, did you read this one?
ReplyDelete"Racket of college loans"
One of the ways to cut the big-spending binge engaged in by the federal government is to terminate the racket of college loans. They are counterproductive, discriminatory, and a bad investment for both taxpayers and students. College-loan debt has soared to nearly a trillion dollars, more than credit-card debt or auto-loan debt. Financial commentators are beginning to compare college-loan debt to the housing bubble that nearly brought down the banking system in 2008....................
Read more at:
http://blog.eagleforum.org/2012/07/racket-of-college-loans.html